Reuters Takeover

Rumors are flying that Canadian firm Thomson, which trades on the Toronto Exchange with the symbol "TOC," is attempting to purchase Reuters, the newswire firm, for an undisclosed sum.

The Reuters newswire was reporting Friday afternoon that Reuters "looked set to endorse" the offer.

Just a week ago, Reuters announced plans to sell software to automatically track news articles about companies and to trigger buy or sell orders based on positive or negative news. The software is priced to sell between $200,000 and $1 million, depending on options. Initially, of course, it will only scan Reuters articles.

I will wager whose stock won't be recommended for a "sell" order.

Hint: it trades under TOC.

You heard it here first, buy Thomson before the news gets out.

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